IOT Group joins forces with global blockchain maven Lakeba

ASX tech small cap, IOT Group (ASX:IOT), has revealed the next
step in its emerging blockchainstrategy, clinching a
partnership with global blockchain specialist, Lakeba, to create, develop,
structure and build IOT Blockchain projects.

The company is looking to collaborate with blockchain experts to
monetise opportunities, and will also advise clients on how to use and benefit
from this disruptive technology. IOT’s subsidiary is targeting projects in the
power, gold, lithium, cobalt and property sectors as its first round of
proposed clients.

This newly penned partnership with Lakeba will help guide IOT’s
entry into the burgeoning blockchain market. It will also enable IOT to offer
energy to consumers through the blockchain.

Lakeba is an established studio with extensive experience
delivering solutions that incorporate the latest technologies such as AI, mixed
reality and blockchain. It is headquartered in Manly, NSW, with offices across
Europe, UK, USA, India and Singapore.

Through its unique business platform, Lakeba creates, builds and
scales new products and services to drive value for businesses and communities
across the globe. Its partnerships include the likes of Google, Intel, Samsung
and Microsoft, which enable Lakeba to bring its newest yet-to-launch
technologies to innovation programs.

This deal will see Lakeba providing its services to IOT and its
future blockchain clients. It is proposed that Lakeba will enter into a further
service agreement with IOT and its clients in respect of each separate project.

Overall this is an early stage play and as such any investment
decision should be made with caution and professional financial advice should
be sought.

While IOT does not yet have any blockchain clients and is still in
the process of fleshing out its blockchain business strategy, this
collaboration with Lakeba will assist with that process.

The services to be provided by Lakeba will include:

analysing and reviewing IOT’s clients to create white papers on
how they can use blockchain to make their businesses more efficient; and

architecting the technical design and build the blockchain to suit
IOT’s clients’ businesses

IOT, Lakeba and
IOT’s clients will agree on the terms of the services to be provided, including
fees.

IOT Group executive director and founder, Sean Neylon, said: “Our commitment to the IOT Blockchain
Advisory Service requires specialised groups to support the client base. IOT
has engaged Lakeba to give it that firepower that interested parties require to
deliver on their requirements.”

“IOT has targeted
several established business sectors for the implementation of blockchain. IOT
expects to announce these over the coming months as blockchain technology is
adopted throughout the broader business community.”

Lakeba CEO and founder, Giuseppe Porcelli, commented: “The energy
sector, more than any other industry, is demonstrating its progressive charter
in embracing this new technology innovation. The Lakeba Group is partnering
with a number of industry sectors to drive the implementation of Blockchain
technology.”

This piece of news is the latest in a string of positive developments relating to
IOT’s broader blockchain plan, following on from the company’s initial
announcement that it is set to tap the global blockchain market, which is expected to grow from US$411.5 million in 2017 to
US$7,683.7 million by 2022.

The past year
has seen uplifts for shareholders of ASX tech stocks with leverage to
blockchain, such as Transcendence Technologies (ASX:TTL), DigitalX (ASX:DCC)
and First Growth Funds (ASX:FGF).

A bit more on
Lakeba

Lakeba brings cutting-edge technology to market in collaboration
with major tech heavyweights. It works with large corporate clients on specific
business challenges to develop solutions that would then scale out to a wider
market opportunity.

The example below is of a possible “blockchain power to consumer”
application:

Lakeba has in-house capability to develop for web and mobile, with
a team of over 80 technical staff at its disposal.

It has a distinct first-mover advantage, rapidly expanding its tech
capabilities and directly engaging with the industry to both realise and drive
blockchain opportunities. This kind of clout, in turn, translates into
considerable leverage for IOT and its blockchain aspirations.

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The information in this website is general information only. Any advice is general advice only. Your personal objectives, financial situation or needs have not been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice. S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877).